Question 1

Which of the following forms of cotenancy does not have right of survivorship?

Accepted Answer

Tenancy in common does not have right of survivorship, meaning that when one tenant in common passes away, their share of the property passes to their heirs or beneficiaries rather than to the other co-tenants. This is unlike joint tenancy and tenancy by entirety, which both include the right of survivorship. Community property is a form of ownership that only exists in certain states and is not relevant to this question.

Question 2

__________ property means land and things embedded in the land.

Accepted Answer

Real property refers to ownership of land and anything permanently attached to it, such as buildings or natural resources. Personal property, on the other hand, refers to movable items such as cars, furniture, or clothing. Intangible property includes things like patents, copyrights, or trademarks. Tangible property refers to physical objects that can be touched or felt.

Question 3

With regard to a bailment, a valid delivery and acceptance need not require that the bailee be aware that goods have been placed within the bailee's exclusive possession or control.

Accepted Answer

The answer of With regard to a bailment, a valid...

Question 4

If a maintenance employee at a hotel finds a pocketbook with $500 in cash while cleaning an empty guest room, the employee:

Accepted Answer

The correct legal action for the maintenance employee to take is to give the found property to the manager of the hotel to be kept for the owner. The employee does not have legal ownership of the property, regardless of finding it, and must make a good-faith effort to help the rightful owner retrieve it.

Question 5

A third person to whom a joint tenant's interest is transferred becomes a:

Accepted Answer

When a joint tenant transfers their interest to a third party, the joint tenancy is broken and the new owner becomes a tenant in common with the remaining joint tenant. Therefore, the correct choice is C - tenant in common.

Question 6

A gift causa mortis is revoked if:

Accepted Answer

A gift causa mortis is a gift made in anticipation of the donor's death and is revocable if the donor does not die or if the gift is revoked by the donor before death. Additionally, if the donee predeceases the donor, the gift is revoked as it is only valid if the donor dies first. Therefore, all three options are correct, making D the best answer.

Question 7

When a bailment is made to further a business interest, but no fee is involved, the bailment is a gratuitous bailment.

Accepted Answer

A bailment made to further a business interest, even without a fee, is typically considered a bailment for mutual benefit, not gratuitous.

Question 8

To establish a gift, the party claiming to be the donee must prove:

Accepted Answer

To establish a gift, the party claiming to be the donee must prove both the intent of the donor to make the gift and the delivery of the gift. Without delivery, the gift is not complete, and without intent, there is no gift. A promise to deliver or intent alone is not sufficient to establish a gift.

Question 9

An ordinary bailment can arise without an agreement between the parties.

Accepted Answer

The answer of An ordinary bailment can arise without an...

Question 10

Sylvia and Morris were married and owned their home as tenants by the entirety. When Morris died, his will said that he left his half of his home to his brother Tim. Sylvia objects to this. The ownership of the home:

Accepted Answer

When a married couple owns property as tenants by the entirety, they each own the whole property and have the right of survivorship. This means that when one spouse dies, the other spouse automatically owns the entire property. Morris's will leaving his half of the property to his brother has no effect on Sylvia's ownership of the property by survivorship. Therefore, the ownership of the home belongs solely to Sylvia by survivorship.

Question 11

In order for a bailment to be valid, the bailor must be the owner of the subject property.

Accepted Answer

The bailor does not necessarily have to be the owner of the property, they can also have possession or control over it with the authority to give it to someone else as a bailment. However, if the bailor is not the owner of the property, they must have the legal right to make such a transaction.

Question 12

When a person rents space in a locker or building under an agreement that gives the renter the exclusive right to use that space, the placing of goods by the renter in that space creates a bailment.

Accepted Answer

The answer of When a person rents space in a...

Question 13

The standard of care for bailments is reasonable care under the circumstances.

Accepted Answer

The standard of care for bailments is reasonable care under the circumstances, which means that the bailee must take reasonable precautions to protect the property in their custody from damage or theft. This includes exercising due diligence in maintaining the property and providing adequate security measures. Failure to meet this standard of care can result in liability for any damages or losses suffered by the bailor.

Question 14

The person who turns over the possession of bailed property is the bailor, and the person who accepts possession is the bailee.

Accepted Answer

This is the correct definition and distinction between the roles of the bailor and bailee in a bailment agreement.

Question 15

Tom established a bank account for his daughter Mary under the Uniform Gifts to Minors Act. Tom named himself the custodian. Later, Tom had a serious disagreement with Mary and ordered the bank to transfer the money in that account to a similar account maintained in the same bank for Tom's son Ed. The bank must:

Accepted Answer

The custodian of a Uniform Gifts to Minors Act account has a fiduciary duty to act in the best interest of the minor beneficiary. In this case, transferring the funds from Mary's account to Ed's account would clearly not be for Mary's benefit, and therefore the bank should refuse Tom's order.

Question 16

A person becomes a(n) __________ at the moment of taking possession of abandoned personal property.

Accepted Answer

When a person takes possession of abandoned personal property, they become the new owner of that property. The other options do not accurately describe the individual's new role and responsibilities in relation to the property.

Question 17

Property held by a bailee may be used by the bailee without the permission of the bailor.

Accepted Answer

Property held by a bailee cannot be used by the bailee without the permission of the bailor. The bailee only has the right to possess and safeguard the property on behalf of the bailor. Any unauthorized use of the property by the bailee would be considered a breach of their duty.

Question 18

Generally, a bailment agreement need not contain all the elements of a contract.

Accepted Answer

The answer of Generally, a bailment agreement need not contain...

Question 19

A bailee's lien gives the bailee the right to keep possession of the bailed property until reasonable charges for storage and/or repairs are paid.

Accepted Answer

A bailee's lien is a legal right that allows the bailee (a person or business entrusted with another's property for safekeeping) to keep possession of the bailed property until reasonable charges for storage and/or repairs are paid. This lien is granted by law and is a form of security for the bailee's services.

Question 20

Barry and Eldridge owned Blueacre as tenants in common. Eldridge died. Blueacre is owned:

Accepted Answer

As tenants in common, each person has a separate share of the property. When one tenant in common dies, their share does not automatically pass to the surviving tenant in common. Instead, it passes to their heirs. Therefore, Blueacre is now owned by both Barry and Eldridge's heirs.

Quiz 21: Personal Property and Bailments